This section sets out the Operating Statement, Cash Flow Statement and Balance Sheet for the general government sector for all levels of government.

Operating Statement

Table 27.4 presents an Operating Statement for the general government sector for 2002-03.

In 2002-03 the GFS NOB for the general government sector for all levels of government combined was $11,467m, indicating that GFS operating revenue exceeded GFS operating expenses. The largest contributor to this result was the NOB for the Commonwealth Government of $6,212m.

GFS Net Lending for the general government sector for all levels of government combined was $8,425m. The Commonwealth Government and the state governments contributed $6,430m and $2,096m respectively to the aggregate result.

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classifications of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into this category are the public universities.(b) The sums of individual levels of government may not agree with total figures for all levels of government due to transfers between levels of government.

Source: Government Finance Statistics, Australia, 2002-03 (5512.0).

Cash Flow Statement

Table 27.5 shows the general government sector for all levels of government combined recorded a cash surplus of $11,134m in 2002-03. On a consolidated basis, the Commonwealth Government recorded a surplus of $7,404m while the state and territory governments collectively contributed $4,639m to the overall surplus.

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classifications of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into this category are the public universities.(b) The sums of individual levels of government may not agree with totals for all levels of government due to transfers between levels of government.
Note: Negative figures denote outflows.

Source: Government Finance Statistics, Australia, 2002-03 (5512.0).

Balance Sheet

GFS Net Worth reflects the contribution of governments to the wealth of Australia. The consolidated GFS Net Worth at 30 June 2003 for the general government sector for all levels of government combined was $444,790m (table 27.6). The most significant assets held were land and fixed assets of $440,848m followed by equity in financial assets of $189,163m. The most significant liabilities were unfunded superannuation liability and other employee entitlements of $171,675m, followed by borrowings of $105,360m.

27.6 ALL LEVELS OF GOVERNMENT, General government: Balance Sheet - 30 June 2003

Commonwealth

Multi-
jurisdictional(a)

State

Local

All levels of government(b)

$m

$m

$m

$m

$m

Assets

Financial assets

Cash and deposits

2,339

893

7,456

2,857

13,541

Advances paid

22,531

9

4,486

10

22,250

Investments, loans and placements

21,805

4,170

28,365

5,264

59,582

Other non-equity assets

18,829

3,250

13,099

1,699

34,454

Equity

44,381

431

143,730

622

189,163

Total

109,886

8,754

197,136

10,452

318,990

Non-financial assets

Land and fixed assets

35,996

19,944

228,496

156,412

440,848

Other non-financial assets

222

119

2,974

1,388

4,693

Total

36,218

20,063

231,470

157,800

445,540

Total

146,104

28,817

428,606

168,252

764,530

Liabilities

Deposits held

2,480

16

1,370

249

4,110

Advances received

-

16

3,775

46

-

Borrowing

72,440

652

28,073

5,168

105,360

Unfunded superannuation liability and other employee entitlements

97,253

4,377

68,399

1,645

171,675

Other provisions

2,689

30

7,996

239

10,954

Other non-equity liabilities

17,547

1,164

9,623

1,743

27,642

Total

192,410

6,255

119,234

9,091

319,741

GFS Net Worth

-46,307

22,563

309,372

159,162

444,790

Net debt(c)

28,244

-4,389

-7,090

-2,668

14,098

Net financial worth(d)

-82,524

2,499

77,902

1,362

-751

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classifications of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into this category are the public universities.(b) The sums of individual levels of government may not agree with total figures for all levels of government due to assets and liabilities held between levels of government.(c) Equals deposits held, advances received and borrowing less cash and deposits, advances paid and investments, loans and placements.(d) Equals total financial assets less total liabilities. While Net financial worth should add across levels of government, small discrepancies may remain due to the difficulties in accurately identifying the parties and counter-parties associated with financial assets and liabilities.

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